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Bumper UK secures £2 Million in Series B extension, fuelling expansion across the UK and Europe. #Bumper, UK based #fintech company revolutionizing the way car dealers and customers approach car repair payments, has successfully secured an additional £2 million in its Series B extension round. This strategic infusion of capital comes from two new heavyweight investors, #Suzuki Global Ventures and Marubeni Ventures Inc., setting the stage for Bumper's accelerated growth across the UK and Europe. The partnership with Suzuki Global Ventures and Marubeni Ventures is not just a financial investment but a strategic alignment designed to propel Bumper's expansion. Suzuki’s impressive European dealer network and Marubeni’s RRG Group, HPL Motors Used Car Supermarket Group, and Norton Way Motors Ltd in the UK provide Bumper with an unparalleled advantage in scaling its operations. Suzuki’s reputation for customer satisfaction, as evidenced by its top rank in the Institute of Customer Service’s 2024 UK Customer Satisfaction Index, underscores the synergistic potential of this partnership. Following a year of record growth, where Gross Merchandise Value (GMV) and customer numbers saw significant increases, Bumper is poised for further success. The company's total investment now stands at £55 million, following a substantial £40 million Series B fundraising effort last year with prominent automotive investors including Autotech Ventures, Shell Ventures, JLR’s InMotion Ventures, and Porsche Ventures. James Jackson, Bumper’s Co-Founder and CEO, shared his vision for leveraging this latest investment to solidify Bumper's position as the leading payment platform for car dealers in the UK and Europe. Emphasizing the universal challenge of unexpected car repair bills, Jackson highlighted the company’s commitment to developing flexible payment solutions that benefit both customers and dealers. Kinji Saito from Suzuki and Tristan Jennings from Marubeni Ventures both praised Bumper’s unique approach to addressing the financing needs of automotive repair customers. They underscored the potential for Bumper’s technology to reduce friction at the point of sale, improve user experience, and integrate seamlessly into dealership IT infrastructure. The announce on #Bumper website in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

Spinny, a used car retailer, achieved steady growth in FY24, with operational revenue increasing by 14.3% to Rs 3,725.02 crore, up from Rs 3,259.78 crore in FY23. This growth was coupled with a 28% reduction in losses, reflecting the company's effective cost management. Spinny primarily generates revenue from vehicle sales, value-added services (such as registration and insurance assistance), and platform fees. In FY23, the company revised its revenue recognition approach, now including direct vehicle sales rather than solely marketplace commission, which adjusted its operating revenue to Rs 3,262 crore. Other income, including interest and rental income, contributed Rs 96.84 crore, bringing Spinny’s total revenue to over Rs 3,800 crore. However, this segment saw a 19.9% decline as Spinny hasn’t raised fresh capital since November 2021. Spinny operates a full-stack model, overseeing every step in its used car sales—from inspection and refurbishment to documentation and financing—enabling it to control quality and streamline operations. #spinny #spinnynews #spinnyrevenue #profitnews #carreselling #exchange #startupnews #startupro Niraj Singh | Mohit Gupta |Hanish Yadav | Nikhil Bansal | Sujit Kumar | Arvind Bansal | Ramanshu Mahaur | Gaurav | Mukul Arora | Payal | Rohan | Vaishali | Sambhaw | Manish | Ishwar | Kallan H | Pankaj Ghai | Astha | Niko | Harry| Parth | Abishek | Siddhant | Drake Pooley | Marc Bhargava| Priya | Neeraj | Ajoy

Has buying a car in Latin America ever been easier? 🚗 For those with an entrepreneurial spirit, a terrible personal experience can be the catalyst for founding a disruptive company. 🙌 Over five years ago, friends—and now business partners—Matias Rossetto and Matias Fernandez Barrio founded Karvi, a web platform that simplifies the purchase of new and used cars for Latin American buyers and sellers! 🎉 Why are they so great? 🤩 🏆 Karvi, which now employs 170 people (up from 25 pre-pandemic), raised $10 million in its Series A investment round and keeps on raising investment as we speak. 🏆 In Argentina, Karvi offers the real-time stock of over 150 dealerships online, and in Brazil, over 1,000, becoming strategic allies for these dealerships and providing an innovative service to customers. 🏆 In Brazil, they secured an agreement with Auto Avaliar, software used by dealerships to manage their used car inventory, making it easier for dealerships to sell cars to each other. 🏆 Karvi's vehicles come with a six-month warranty, enhancing the buying experience and generating high levels of trust and satisfaction. It’s time to cheer up for LatAm! Let’s give a huge shoutout to Karvi! 💖 #startuplife #latamfounders #latamtalent #tech

🚴♂️ The e-bike industry is at a crossroads, witnessing a whirlwind of financial turmoil that has left major players like VanMoof struggling to stay afloat. With rumors swirling around companies like Bolt Mobility and Juiced Bikes facing similar fates, it raises critical questions about the future of this innovative market. From my own experience in the tech industry, I’ve seen firsthand how rapid expansion can lead to a company’s downfall when not backed by sound financial practices. The e-bike sector seems to be facing the same fate, with key issues like unsustainable growth, operational inefficiencies, and market saturation contributing to an unstable landscape. Here are some lessons we've learned from the recent bankruptcies: 1. **Sustainable Growth is Key**: Companies must prioritize balanced growth over aggressive market capture to build a solid foundation. 2. **Financial Management Matters**: Regular audits and sound cash flow management are critical to avoiding pitfalls. 3. **Debt Restructuring**: Businesses should explore restructuring their debts to stabilize finances and keep operations viable. Starlight Ebikes stands out as a beacon of hope, showcasing the benefits of disciplined growth and strict financial controls. They remind us that careful management not only paves the way for stability but also contributes to long-term success. What steps do you think e-bike companies should take to mitigate these risks? Let’s discuss! 💬 #EBikes #VanMoof #SustainableGrowth #FinancialManagement #Startups #BusinessStrategy #Innovation📈

Exciting news! Fundmystartup assisted TILER to close its bridge financing round end of 2023. A warm welcome to their new partner: Narwhal and thanks to Rockstart for confirming their confidence by re-investing in this round. Their financial backing propels TILER forward to revolutionize wireless e-bike charging and boost light electric vehicle adoption. 🚀 Milestone: 100th Charging Tile shipped, now powering 25 Park&Charge Hubs in the Netherlands and Germany. A robust B2B sales pipeline positions TILER well, to achieve at least 500% revenue growth in 2024 from its first revenues EUR 100K in 2023. Furthermore TILER has validated and scaled its serial production partnering with a third party manufacturer. Moreover, TILER's advanced cloud-based features are now geared to optimize fleet management for valued customers to make sure they always have charged bikes available! In Q2/ Q3 2024 TILER expects to raise a new funding round, in order to invest in scaling sales, expand across Europe and diversify the product line of charging solutions to a broader range of light electric vehicles. Follow TILER and FundMyStartup.vc to keep up to date.

Congratulations to our client Karmo, on achieving two transformative milestones! 1.  Acquisition of industry player Motopool, propelling Karmo to the top of Australia’s car subscription market with a combined revenue of $33 million. 2. Securing a $138M debt facility from Volkswagen and Toyota, two of the world’s largest vehicle manufacturers. This significant financial backing positions Karmo for accelerated growth in the rapidly expanding global car subscription industry, projected to reach $66.7 billion by 2032. Under the visionary leadership of CEO Nick Boucher, Karmo is not only growing but reshaping the way Australians access vehicles, championing the innovative 'access over ownership' model. With an expanded leadership team, including CFO John Bush, Chief Product Officer Sam Zammit, and new team members from Motopool, Karmo is poised to redefine the car subscription landscape. At The PR Hub, we are proud to support Karmo, along with other founder-led tech startups and scale-ups, in driving impactful PR and communications strategies that align with their bold vision and goals. For over a decade, our mission has been to build long-term partnerships, becoming an extension of our clients’ teams, and helping them forge powerful connections with their audiences. To learn more about Karmo’s exciting announcement, check out the link in the comment below #TechStartups #BrandGrowth #PRStrategy #Communications #Innovation #Karmo #Motopool #AutomotiveIndustry

[NEWS] FreewayCamper secures €4M in investment German motorhome rental platform FreewayCamper has announced that it has raised €4 million in an investment round in two tranches. 🚐 The investment will fuel product development, partner network expansion, and new service launches, supporting FreewayCamper's goal to enhance RV rental experiences. Earlier this year, FreewayCamper merged with Czech motorhome platform Campiri, with Campiri’s CEO Lukáš Janoušek joining as group co-CEO. Could this investment make FreewayCamper the leading RV rental platform in Central Europe? 🤔 Read the full article HERE >> https://lnkd.in/ga5EGJqW Reading Time: < 1 minute #freewaycamper #RVs #investment #motorhome

TVS Motor Co. seems to have shifted gears to fast lane over the last few years, thanks to acquisitions of e-mobility firms, investments in tech startups, going full-throttle on electric-vehicle front and roping in partners in the overseas markets to expand the export basket. Read #NDTVProfitOpinion by Sajan C Kumar.

Thank you for sharing Dante Bustos and thank you for the valuable comments. It's interesting to me how sometimes startups fall into the trap of what we used to call "Dutch Disease" - because one sector (or function) is doing well, everything else withers. I think that's what we see with the tremendous fundraising taking place. If you have money to burn ... you tend to burn money. So fundraising goes well but product development, product-market fit, traction, customer experience, accounting and reporting standards, governance -- it all atrophies. It's something to be very aware of and to avoid.

On February 1st, 2024, Swedish electric motorcycle producer Cake shocked the world by announcing that it was entering bankruptcy. Since its launch, Cake has been seen as a European clean mobility champion with a superior design and functionality that was intended to woo thousands of drivers to the electric motorcycle future. This positioning helped Cake raise over $ 74 million in funding and launch six different motorcycle models.   The reality was apparently far different. According to TechEU, Cake sold only 6,000 motorcycles during the course of its life--a claim I cannot confirm.   While I do not have any inside information on why exactly Cake failed, I would like to use this opportunity to review the Cake strategy first of all as a startup, but also as an electric motorcycle startup, to try to understand what might have gone wrong. Along the way, I also contrast why it is so challenging to bring a new generation of all-electric motorcycles to the market, complementing or replacing the internal combustion engine.   All information presented here has been taken from public sources of information. #cakemotorcycles #bankruptcy #cleantech #mobility #startups https://lnkd.in/ddCuVQNT